Argentinian social network Taringa will pay for content in bitcoin

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Argentinian social network Taringa has partnered with bitcoin wallet and custodial service provider Xapo to tip its content creators in bitcoin.

With 75 million users, the free social network is second only to Facebook in the region, and allows users to create and share information on its platform.

Taringa survives on an ad-revenue sharing model similar to YouTube’s. The new bitcoin-tipping programme, Taringa Creadores, with combine the network’s former model with the social network’s unique ranking system to incentivise the sharing of popular content.

At first the new scheme will be invite only, allowing the site’s top content creators to register using Xapo. The size of bitcoin tips will depend on the views, points and advertising revenue generated by each post, Coinbase reported.

“We chose Xapo because it is one of the safest bitcoin wallets out there and because their strategy is placed on the Hispanic market,” said Taringa co-founder Hernán Botbol of the decision to tie up with Xapo. “The company is led by a group of Latin American entrepreneurs and that means that they really understand our market and the needs of the millions of users in the region.”

“The partnership will provide a unique opportunity for many people to try out how bitcoin works and to gage the digital currency’s reception in the region,” Xapo founder and director Wences Casares told Coinbase. “South America is an interesting market because of its increasing Internet penetration and its community of early adopters of technology who still do not have access to bitcoin.”

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